Ashmore boss reduces stake after concerns of ‘creeping control’

Mark Coombs, who holds around 39% of shares in the FTSE 250-listed asset manager, will sell up to 4% each year

By

David Ricketts

February 14, 2019 Updated: 11:06 a.m. GMT

Ashmore’s chief executive plans to reduce his stake in the emerging markets asset manager over the next four years, after a proxy adviser last year warned there was a risk of him gaining “creeping control” over the company.

Mark Coombs, who holds around 39% of shares in the FTSE 250-listed asset manager, said he will sell up to 4% of his investment in the company each year to reach “a more appropriate level over the medium term”.